https://www.taxtmi.com/caselaws?id=750993 A prosecution under the Prevention of Money Laundering Act, 2002 was treated as maintainable despite the argument that Section 447 of the Companies Act, 2013 was inserted in the PMLA schedule later, because the Court regarded money laundering as a continuing offence and found the alleged laundering activity was not limited to the date of the underlying agreements. The Court further held that Section 45 governs anticipatory bail and required the applicant to satisfy the twin conditions of showing reasonable grounds that he was not guilty and would not commit an offence on bail. On the prima facie material, including the applicant's role in the agreements, cooperation and parity arguments failed and anticipatory bail was declined. en-us Wed, 13 Mar 2024 00:00:00 +0530 Thu, 04 Apr 2024 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750993 A prosecution under the Prevention of Money Laundering Act, 2002 was treated as maintainable despite the argument that Section 447 of the Companies Act, 2013 was inserted in the PMLA schedule later, because the Court regarded money laundering as a continuing offence and found the alleged laundering activity was not limited to the date of the underlying agreements. The Court further held that Section 45 governs anticipatory bail and required the applicant to satisfy the twin conditions of showing reasonable grounds that he was not guilty and would not commit an offence on bail. On the prima facie material, including the applicant's role in the agreements, cooperation and parity arguments failed and anticipatory bail was declined. Case-Laws Money Laundering Wed, 13 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750993